Rigid Plastic Packaging Market: 2018-2024 Forecast and Size Analysis

Rigid plastic packaging, as the name suggests, solely involves the usage of plastic material; it has a relatively inflexible shape or form. The global rigid plastic packaging market has exhibited considerable growth during the past few years, driven by the various beneficial properties of rigid plastic packaging, such as it is light weight, supple, and durable. Besides, rigid plastic packaging keeps the goods safe for a long period of time. Moreover, the changing lifestyle and increased consumer spending on packaged goods are factors attributed to the expected growth of the global rigid plastic packaging market over the forecast period.

Due to the rising environment concerns, there has been a rise in demand for recyclable products, thus paving the way for the foray of various recycling infrastructures for plastics, which in turn is propelling growth of the market for rigid plastic packaging. Rigid plastic packaging is used in various industries such as food & beverages, pharmaceuticals, and personal care, among others. The growth witnessed in these industries, in turn, is further propelling growth of the market for rigid plastic packaging. Overall, the global rigid plastic packaging market is expected to expand at a single digit CAGR over the forecast period.

Rigid Plastic Packaging Market: Drivers & Restraints

The rigid plastic packaging market is driven by the increasing demand from the food and beverages industry, which is one of the prominent end users of rigid plastic packaging. The eating habits of consumers globally are changing as the consumers are increasingly opting for packaged foods, which in turn is further driving growth of the market for rigid plastic packaging. However, the non-biodegradable properties of rigid plastic packaging have been observed to have a serious impact on the environment, which can pose as a restraint for growth of the rigid plastic packaging market over the forecast period.

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Hence, some manufacturers are using natural raw materials over synthetic materials for manufacturing of rigid plastic packaging types. This trend is expected to help counter the environmental issues related to rigid plastic packaging. Expansion of plastic recycling units is another alternative for countering the environmental restraint. On the other hand, the competition from flexible plastic packaging may have a negative impact on growth of the rigid plastic packaging market over the forecast period.